Paper closed 9,200 of BWP Feb 13 puts paying 1.26 & sold 9200 March 13 puts at 1.40 collecting a credit of .14 on the roll.
Boardwalk Pipeline Partners LP, trading 12.01 (up .58) with an IV30 of 49.10 and an HV10 of 47.20, saw a large put roll today.? The LP, with an ADV of 1200 and OI of 27,600 contracts, saw a customer roll out of a short Feb 13 puts position and roll into a short March 13 put position.? The customer closed 9,200 of the Feb 13 puts paying 1.26 and then the customer sold 9200 of the March 13 puts at 1.40 collecting a credit of .14 on the roll.
This is likely a trader that was short the Feb 13 puts when the stock was higher thinking that the underlying was not going to move to 12.00 a share.? The stock then dipped and rather than take position the customer chose to collect a small credit and be short the Mar 13s.? He or she is hoping the stock rallies more between now and March.
This trade should be considered bullish h underlying and bearish volatility.